Lucid Diagnostics (NASDAQ:LUCD) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a research note released on Wednesday morning, Benzinga reports. They currently have a $2.50 target price on the stock.

Lucid Diagnostics Stock Performance

Shares of LUCD opened at $0.99 on Wednesday. Lucid Diagnostics has a twelve month low of $0.97 and a twelve month high of $1.85. The firm’s 50 day moving average price is $1.29 and its two-hundred day moving average price is $1.34. The firm has a market cap of $44.22 million, a P/E ratio of -0.78 and a beta of 1.73.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings results on Tuesday, March 26th. The company reported ($0.26) earnings per share for the quarter. Lucid Diagnostics had a negative net margin of 2,169.07% and a negative return on equity of 8,334.14%. The company had revenue of $1.04 million during the quarter. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. On average, sell-side analysts anticipate that Lucid Diagnostics will post -0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Lucid Diagnostics by 245.3% in the second quarter. Geode Capital Management LLC now owns 143,465 shares of the company’s stock valued at $199,000 after buying an additional 101,922 shares during the period. Vanguard Group Inc. increased its stake in shares of Lucid Diagnostics by 25.6% in the first quarter. Vanguard Group Inc. now owns 312,876 shares of the company’s stock valued at $1,051,000 after buying an additional 63,687 shares during the period. Citadel Advisors LLC acquired a new position in shares of Lucid Diagnostics in the second quarter valued at approximately $87,000. Geneos Wealth Management Inc. acquired a new position in shares of Lucid Diagnostics in the first quarter valued at approximately $209,000. Finally, Verition Fund Management LLC acquired a new stake in Lucid Diagnostics during the 1st quarter valued at approximately $122,000. Institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma (EAC). It offers EsoCheck, a cell collection device to prevent EAC deaths; and EsoGuard, an Esophageal DNA Test.